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Iran’s NPC chief says speeding up petrochemical projects key to enhancing trade balance
(MENAFN) Hassan Abbaszadeh, the acting head of Iran’s National Petrochemical Company (NPC), emphasized the importance of speeding up the completion of petrochemical projects as a critical factor in improving the country's foreign trade balance, according to a report by an Iranian news agency. He noted that the petrochemical sector plays a vital role in enhancing Iran's trade performance, and accelerating the completion of these projects could significantly boost export revenues, which are essential for balancing foreign trade.
Abbaszadeh highlighted that many of the country’s petrochemical projects are currently in various stages of development, with some being partially finished. He pointed out that these semi-completed projects hold immense potential for the petrochemical industry and, if expedited, could quickly be brought online to contribute to the country's economic growth. Delays in project completion, he warned, could hinder Iran’s ability to fully capitalize on the global demand for petrochemical products, which is steadily rising.
The acting NPC head further stressed that the Oil Ministry has made the timely completion of these projects a central priority. By focusing on accelerating the pace of development, the ministry aims to ensure that Iran's petrochemical industry remains competitive on the global stage. The quicker these projects are completed, the more swiftly they can contribute to both domestic growth and international trade, ultimately reinforcing the nation's economic stability.
In conclusion, Abbaszadeh asserted that Iran’s trade and export potential lies in the hands of its petrochemical sector, with the completion of ongoing projects being the key to unlocking new trade opportunities. The Oil Ministry's dedication to ensuring timely progress on these initiatives reflects a broader strategy to bolster foreign trade by leveraging the petrochemical industry’s capacity to meet global market demands and contribute to the country's overall economic resilience.
Abbaszadeh highlighted that many of the country’s petrochemical projects are currently in various stages of development, with some being partially finished. He pointed out that these semi-completed projects hold immense potential for the petrochemical industry and, if expedited, could quickly be brought online to contribute to the country's economic growth. Delays in project completion, he warned, could hinder Iran’s ability to fully capitalize on the global demand for petrochemical products, which is steadily rising.
The acting NPC head further stressed that the Oil Ministry has made the timely completion of these projects a central priority. By focusing on accelerating the pace of development, the ministry aims to ensure that Iran's petrochemical industry remains competitive on the global stage. The quicker these projects are completed, the more swiftly they can contribute to both domestic growth and international trade, ultimately reinforcing the nation's economic stability.
In conclusion, Abbaszadeh asserted that Iran’s trade and export potential lies in the hands of its petrochemical sector, with the completion of ongoing projects being the key to unlocking new trade opportunities. The Oil Ministry's dedication to ensuring timely progress on these initiatives reflects a broader strategy to bolster foreign trade by leveraging the petrochemical industry’s capacity to meet global market demands and contribute to the country's overall economic resilience.
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